The true insanity of London's housing market

shortchanged_2

dryhat wrote: »

You could snap up this beauty for just under £1million .....

http://www.rightmove.co.uk/property-for-sale/property-42016234.html

Well at least it's in stunning condition. :rotfl:

BillJones

It would help greatly if nonproductive people were not housed on prime real estate.

Ye, it's a cliche, but commuters are rightly angry when at the end of their hour-long trip in they walk past blocks of flats in total darkness a couple of hundred metres from their offices.

Bizarrely, though, it's become a principle of the Left nowadays that while workers are expected to move to wherever they can afford, the unemployed must be kept where they currently are, as it is their "right" to live round the corner from their extended family.

The guardian had a piece a while back where everyone was horrified at an unemployed single lady being pushed to move out of her flat in Mayfair to move a mile up the Edgware Road, as it was I humane to take "her" home off her. When the debate has moved this far from reasonable ground, though, sensible solutions can't even be discussed any longer.

mayonnaise

dryhat wrote: »

You could snap up this beauty for just under £1million .....

....and sell it next year for £1.2 million

chucknorris

somethingcorporate wrote: »

:rotfl:

It would cost about 20% of that up here.

Absolutely mind-boggling that such a crap, small house can be worth so much.

Are you joking? Or did you not notice that it is in Highgate? I take it those who are confused are not familiar with Highgate prices (location, location, location). I wouldn't buy it because I don't think Highgate represents value, but I wouldn't expect to get something cheap if I wanted to live there.

chewmylegoff

somethingcorporate wrote: »

:rotfl:

It would cost about 20% of that up here.

Absolutely mind-boggling that such a crap, small house can be worth so much.

Given what else is on rightmove around the same price - it probably isn't worth that much.

Gangaweed

And everyone lived happily ever after, in their bazillion pound homes.

Generali

chucknorris wrote: »

Are you joking? Or did you not notice that it is in Highgate? I take it those who are confused are not familiar with Highgate prices (location, location, location). I wouldn't buy it because I don't think Highgate represents value, but I wouldn't expect to get something cheap if I wanted to live there.

You say 'Highgate', I say 'Upper Archway'.

gazter

MGCP wrote: »

I see that has been the cause of considerable comment on the HPC website.

Wow, i got this for a quarter of that price, a few hundred miles north.

http://tinypic.com/r/345y5w6/5

somethingcorporate

chucknorris wrote: »

Are you joking? Or did you not notice that it is in Highgate? I take it those who are confused are not familiar with Highgate prices (location, location, location). I wouldn't buy it because I don't think Highgate represents value, but I wouldn't expect to get something cheap if I wanted to live there.

My wife used to live just round the corner - Archway is a pretty shoddy area. When we were looking for houses we considered some flats in Highgate but they were obscenely priced.

I wouldn't spend £1m on a tiny house like that. I'd rather spend £500k on a decent sized house in the sticks and get a helicopter to work every day on the change.

We opted to live in Southend in a place 4 times the size of the Highgate flats we were looking at for less than 80% of the price. It took us the same amount of time to get to work than had we bought and lived in Highgate, except we got to sit on a nice overground train rather than sweating it up and down the 'orrible northern line every day.

I just don't see the obsession with property in London, who honestly has £1m to spend on 1,000 sq ft when you could get this an hour away in Peterborough http://www.rightmove.co.uk/property-for-sale/property-42991214.html (I could have picked dozens of similar properties within a reasonable commuting distance of London in almost any direction).

Loughton_Monkey

grizzly1911 wrote: »

"Yep, property in the capital is now so far removed from the rest of the UK, that it really must be considered as a market unto itself - so say estate agents.

As prices continue to increase at more than double the pace of the rest of the UK, we take a close look at just what's happening to homes in the capital:"

http://uk.finance.yahoo.com/news/london-property-market-in-graphs-165123211.htmlAn interesting set of graphs.

Like a good little boy, I read every word and looked at all the pictures.

Couldn't see anything I didn't already know. Did I miss something?

Maybe Yahoo Finance is not quite the "cutting edge" of financial journalism.....